Can I presume that first line is for buy and the dotted for SL ?
Here's a better chart with a small explanation. Stop losses only go over the regional highs and lows as we move with the commerce. I don't mess up with breathing distance, I wish to strangle the hell out of these.
Anyhow, I am not out to convert anybody just enthusiastic about a good trade is. It is a beautiful thing when price respects the traces such as a script, so I thought you would love it.
Appears like a more demanding method of applying TL in contrast to what I have learned but as long as you bang profits in the long run its all good
speaks for itself. Not saying it's likely to hold all week, but it's done. Fantastic shout to get a continuation if it breaks also.
Edit: What I mean by continuation is when a support or resistance level seems to be respected but doesn't reverse, in other words, when a price touches a substantial level and after that just handles a pullback then that tells me that the market isn't ready to turn along with a continuation trade (could be a near and reverse) may be in order, which in this situation is a break of the most recent high (Ross Hook a la Joe Ross). Anywhere else on a chart I would not pay much attention, I just exchange on or close to support or resistance.
Back at the Peak of the pitchfork and the Slipping parallel on GBPUSD. Late in the week though. I am going out shortly, but when I see that a 1-2-3 bearish reversal pattern on the 5m until I go I might have a taste and leave it until Sunday night. GBP stays the dog that all of the other currencies really like to kick and I really don't see anything unbelievable occurring over the weekend that will change its bundles but all the same it'll be a reduced size to variable in a potential gap.
For the record, I have also taken partial profits on USDCHF and will leave this over the weekend also. I got shaken out of USDCAD for a couple of dozen pips but the transaction notion is valid by all accounts.
Posting my last drawing on gbp/yen. Not so bearish channel inside a dayly bearish channel. Lets find out where it needs to go.
Have a fantastic weekend and everybody. C ya!
1 Attachment(s) I am not a fan of picking shirts but sometimes the proof of a turnover stacks up.
The flag target is soon to be hit, and occasionally when the flag-target is achieved, a correction follows. We've got 3 bits on the red TL and on the forth touch could be a rest, that is the setup I am thinking about based on Igrok's template #20.6.
Divergence have been made by both mom and MACD but I have absolutely no idea once we can expect a breakout.
https://www.cliqforex.com/trading-sy...g-journal.html